{"id":813,"date":"2017-09-19T15:01:59","date_gmt":"2017-09-19T15:01:59","guid":{"rendered":"http:\/\/blogs.rosenhyundai.com\/?p=813"},"modified":"2017-09-19T15:01:59","modified_gmt":"2017-09-19T15:01:59","slug":"tips-tricks-understanding-vehicle-leasing","status":"publish","type":"post","link":"https:\/\/blogs.rosenhyundai.com\/index.php\/2017\/09\/19\/tips-tricks-understanding-vehicle-leasing\/","title":{"rendered":"Tips and Tricks for Understanding Vehicle Leasing"},"content":{"rendered":"

\"Hyundai<\/p>\n

Understanding how to lease a car<\/a> can be complicated for someone who is doing it for the first time. Luckily, Rosen Hyundai is here to give you a quick breakdown of all the things you should keep in mind before you visit your local Algonquin Hyundai dealer<\/a> to lease a Hyundai.<\/p>\n

 <\/p>\n

Leases can be intimidating with all their legal terminology, lists of fees and unique financial components. But while lease contracts may appear to be complicated, they\u2019re actually easy to understand if you know a few key terms:<\/p>\n

 <\/p>\n

Capitalized cost<\/strong> is the price you agree to pay for the car. After you deduct the cost of your down payment and\/or trade-in vehicle (also known as a \u201ccapitalized cost reduction\u201d), the amount left over is the leasing company\u2019s investment in the car.<\/p>\n

 <\/p>\n

Residual value<\/strong> is the estimated value of the car after the lease term is up. Dealers come up with this number by calculating a percentage of the vehicle\u2019s original MSRP (also known as \u201cManufacturer\u2019s Suggested Retail Price\u201d) and then converting that into a dollar amount.<\/p>\n

 <\/p>\n

Money factor<\/strong> (also known as the \u201clease rate,\u201d \u201clease factor,\u201d or simply \u201cfactor\u201d) is pretty much the same thing as the annual percentage rate (APR) you might be familiar with from conventional loans. However, the \u201cmoney factor\u201d is expressed as a small decimal fraction.<\/p>\n

 <\/p>\n

Now that you\u2019ve got the jargon down, here are a few key tips to help you ensure that the lease you\u2019re signing is the best one possible:<\/p>\n

 <\/p>\n

    \n
  1. Don\u2019t be afraid to negotiate.<\/strong> Some people assume that since they\u2019re only leasing, they don\u2019t have the right to negotiate the price of the vehicle. That\u2019s incorrect. You should always negotiate the vehicle\u2019s purchase price as if you were planning to buy it outright. Discussion of a lease deal should only begin after you\u2019ve gotten the price down to where you want it. Don\u2019t forget to make sure that\u2019s the number used for the lease\u2019s gross capitalized cost.<\/li>\n<\/ol>\n

     <\/p>\n

      \n
    1. Negotiate, negotiate, negotiate.<\/strong> Don\u2019t forget that the mileage limit, down payment and purchase-option price are also negotiable!<\/li>\n<\/ol>\n

       <\/p>\n

        \n
      1. Do your research.<\/strong> Take some time before you head into the dealership to research the money factor in other leases so that you can negotiate that too. Also make sure the vehicle you\u2019ve chosen is worth at least as much as its buyout price so that you can buy it after the lease ends without any regrets.<\/li>\n<\/ol>\n

         <\/p>\n

          \n
        1. Always buy the insurance.<\/strong> Sometimes GAP (Guaranteed Auto Protection) Insurance is included in the lease but if it\u2019s not, make sure you buy it to protect yourself from liability in the event that the vehicle is stolen or totaled in a collision.<\/li>\n<\/ol>\n

           <\/p>\n

          Now that you\u2019re a Hyundai lease<\/a> pro, visit Rosen Hyundai for a look at our available cars for lease near you<\/a>. Our friendly sales staff will be happy to answer any of your leasing questions today.<\/p>\n","protected":false},"excerpt":{"rendered":"

          Understanding how to lease a car can be complicated for someone who is doing it for the first time. Luckily, Rosen Hyundai is here to give you a quick breakdown of all the things...<\/p>\n","protected":false},"author":1,"featured_media":814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[200],"tags":[26,225,146,105,224],"yoast_head":"\nTips and Tricks for Understanding Vehicle Leasing - Rosen Hyundai<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.rosenhyundai.com\/index.php\/2017\/09\/19\/tips-tricks-understanding-vehicle-leasing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips and Tricks for Understanding Vehicle Leasing - Rosen Hyundai\" \/>\n<meta property=\"og:description\" content=\"Understanding how to lease a car can be complicated for someone who is doing it for the first time. 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